Workers in Nigeria contributed ₦1.32 trillion to their individual Retirement Savings Accounts in 2023

With over ten million registered Retirement Savings Accounts as of Dec 2023, Nigerian workers' pension contributions have grown steadily, despite fluctuations in recent years, to reach ₦1.32t in 2023.

In 2023 alone, 13.3% of the total savings since inception was contributed.

Total contributions since 2004 reached ₦9.9 trillion by 2023, with 52% coming from the public sector. The public sector grows at an average annual rate of 15.8%, while the private sector averages 16.2% yearly growth.

Source:

National Pension Commission

Period:

2004 - 2023
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